BUILDING A LOGISTICS SPEEDWAY

By investing in infrastructure, enhancing data visibility, and optimising Digital Public Infrastructure and asset use, India can build a world-class logistics sector

- R. Dinesh

As India charts its course towards becoming a global economic powerhouse, the logistics sector emerges as a critical driver of this ambition. The efficient movement of goods and services across the country and beyond its borders is not merely a facilitator of economic growth but a fundamental catalyst. To truly unlock its potential and achieve the status of a 'Viksit Bharat' by 2047, India will have to continue its logistics revolution by focusing on four key areas continuing the focus on infrastructure development, outsourcing and development of 3PL and 4PL service providers (3PL or third-party logistics manages tasks like transportation, warehousing and order fulfillment for businesses, and 4PL or fourth-party logistics oversees the entire supply chain, coordinating multiple 3PLs and providing strategic management), optimum utilisation of assets and usage of Digital Public Infrastructure (DPI).

Leveraging the infra backbone: The focus on infrastructure development is already setting in motion the logistics revolution. The government has demonstrated its strong commitment through the implementation of various initiatives like the Bharatmala Pariyojana, the Dedicated Freight Corridor project and the Sagarmala scheme. These projects aim to create a seamless, multimodal transportation network that will significantly reduce logistics costs and improve efficiency.

THE GIANT STEPS

• Continue the focus on infrastructure development; the Bharatmala Pariyojana, dedicated freight corridors and the Sagarmala scheme will significantly reduce logistics costs and improve efficiency

• Execute outsourcing effectively and cost-efficiently. It will reduce the cost of doing business and the carbon footprint